GI Plastek completes Wolfeboro expansion

WOLFEBORO — It has taken a year and cost $3.1 million, but an expansion project is complete at GI Plastek and the company is planning a party to celebrate.

Employees and the board of directors of the custom molder of structural foam and plastic parts plan a grand reopening Sept. 10 and ribbon-cutting ceremony.

The expansion project has grown the 56,000-square-foot manufacturing floor to 91,000 square feet, allowing the addition of more state-of-the-art medium and large injection molding presses, as well as warehouse space.

It also will allow the firm, located at 5 Wickers Drive, to consolidate operations at the site.

It has been using another manufacturing building across the road, and a warehouse near Mirror Lake.

The construction has enabled it to change to a “one-piece flow” system, creating a leaner manufacturing process, said Daniel H. Mills, president.

Mills said he excited about the opportunities the expansion will bring and “how it will transform the way that we work and how much more competitive we will become.”

The additional warehouse space has added four docks to the two existing ones.

GI Plastek started in the 1980s as prototype metal shop. Today it is owned by Wincove Capital, a New York City-based private equity firm, which purchased it in 2009.